VMPL
New Delhi [India], May 6: Binance today announced the launch of "Withdraw Protection," a new user-centric security feature that gives users greater control over the safety of their digital assets. As part of Binance's ongoing commitment to proactive user protection and education, the new feature adds an extra layer of account security that users can activate at any time.
Withdraw Protection enables users to place a temporary lock of their digital assets, preventing on-chain withdrawals for a user-defined period of one to seven days. During this time, assets cannot be withdrawn from the exchange, helping users add an extra layer of control when they want to exercise extra caution. Users can also choose whether early unlocking is permitted, and if so, both an authenticator app and a security key must be enabled, while email confirmation and phone/SMS authentication can be added as optional verification methods.
For users who prefer maximum certainty, Withdraw Protection offers a strict lockdown option that disables early unlocking entirely. In both cases, the selected lock period cannot be overridden by the exchange, ensuring users retain full control over their chosen security settings. This reflects Binance's goal of giving users clear and enforceable security controls.
"User protection is important across all digital and financial platforms, and security is most effective when it is both proactive and user-driven," said Jimmy Su, Chief Security Officer at Binance. "Withdraw Protection is designed as a proactive control that gives users more choice over account security, and it reflects the evolution of digital asset services toward stronger user safeguards."
Binance emphasizes that Withdraw Protection is part of a broader approach to responsible asset management and not a substitute for good cyber hygiene and vigilance. Users are encouraged to follow best practices such as whitelisting withdrawal addresses in advance, maintaining strong authentication methods, and exercising discretion while discussing their crypto holdings. By combining education with practical tools like Withdraw Protection, Binance aims to help build a safer and more resilient ecosystem for all users.
Availability: Withdraw Protection is progressively rolled out across all regions. iOS users must be on iOS 16 or above and Binance app version 3.14.0 or above to use this feature. Users can learn more about the new feature here.
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